eco.business Fund and Calvert Impact extend partnership to boost sustainable agribusiness practices in sub-Saharan Africa

Luxembourg and Maryland (USA), 25 March 2024 -The eco.business Fund, an impact investment fund advised by Finance in Motion, has secured an investment worth USD 10 million from Calvert Impact, a global nonprofit firm investing in solutions for people and the planet. The investment in Senior Notes of is meant to promote sustainable business practices among agribusiness value chains in sub-Saharan Africa. This investment by Calvert Impact is an extension of their existing cooperation as an investor and loan participant to the eco.business Fund’s sub-fund for Latin America and the Caribbean.

The investment will assist the eco.business Fund in bolstering its efforts to finance actors within sustainable agribusiness value chains and in promoting the financing of practices that facilitate biodiversity conservation and adaptation to climate change. Sustainable agribusiness practices play a vital role in conserving biodiversity, particularly in regions housing numerous biodiversity hotspots like sub-Saharan Africa. Moreover, given the predominantly agrarian economies in the region, the adoption of sustainable practices not only yields environmental benefits but also provides economic advantages by facilitating access to international markets for certified sustainable agricultural producers and other value chain participants.

“We are excited to expand our relationship with Finance in Motion and the eco.business Fund with this investment to further biodiversity conservation and environmentally sustainable agricultural practices in the region,” said Catherine Godschalk, Vice President of Investments at Calvert Impact. “And importantly, our work together continues to demonstrate  how public-private partnerships and blended finance structures can deliver environmental impact across the globe.”

Michael Evers, Chairperson of the Board of Directors of the eco.business Fund, expressed his views on this collaboration saying “One cannot emphasize enough the significance of continued support from longstanding partners such as Calvert Impact. Their continued trust unleashes the transformative potential of public-private partnerships, empowering the Fund to expand its impact into new regions and establish a strong groundwork for greater private-sector participation in funding the preservation of biodiversity and sustainable use of natural resources.”

Hector Gomez Ang, Director for the eco.business Fund at Finance in Motion, the Fund’s advisor, highlighted the importance of the partnership, saying "We’re grateful for the ongoing trust of Calvert Impact and their appreciation of the positive systemic impact of private-sector engagement in promoting sustainable business approaches. This investment represents a validation of our established track record and dedication to effecting meaningful, positive transformations. More than just enhancing our ability to create positive impact, it highlights our capacity to attract and responsibly manage investments from private investors."

By supporting sustainable business practices, the eco.business Fund continues to make substantial contributions to achieving the Sustainable Development Goals (SDGs): SDG 2 (Zero Hunger), SDG 6 (Clean Water & Sanitation), SDG 8 (Decent Work and Economic Growth), SDG 12 ( Responsible Consumption & Production), SDG 13 (Climate Action), SDG 14 (Life Below Water), SDG 15 (Life on Land), and SDG 17 (Partnerships for the goals).

About Calvert Impact

Calvert Impact is a global nonprofit investment firm that helps investors and financial professionals invest in solutions that people and the planet need. During its 29-year history, Calvert Impact has mobilized approximately $5 billion to build and grow local community and green finance organizations through its flagship Community Investment Note® and other products and services. Calvert Impact recently launched the Cut Carbon Note®a product that aims to reduce carbon emissions and transform the way we build. Calvert Impact uses its unique position to bring the capital markets and communities closer together.

More at calvertimpact.org.  

About the eco.business Fund

The eco.business Fund aims to promote business and consumption practices that contribute to biodiversity conservation, to the sustainable use of natural resources, and to mitigate climate change and adapt to its impacts in Latin America, the Caribbean, and sub-Saharan Africa. By providing financing for business practices that conserve nature and foster biodiversity, the fund seeks investments with both environmental and financial returns. The eco.business Fund provides financing through three avenues: local financial institutions that are committed to the fund’s mission and which have the capacity to reach its target group; directly to its target group (i.e. companies and producers); and in the case of sub-Saharan Africa, to real sector intermediaries. The fund supports sustainable operations in the sectors of agriculture, fishery (including aquaculture), forestry and tourism. Target beneficiaries are those that hold an eligible sustainability certification or those taking out a loan to make eligible sustainable investments in their operations.
Operating together with each of the two sub-funds, are two development facilities that provide high-impact technical assistance to investment partners and final borrowers.
An impact investment fund advised by Finance in Motion, the eco.business Fund was initiated by Germany’s KfW Development Bank and Conservation International with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ).

The sub-fund for sub-Saharan Africa was formally launched in 2020 with initial funding from BMZ.

The sub-fund for Latin America and the Caribbean has received funding from the European Commission as well as from numerous other prestigious development finance institutions and institutional investors.
For more information please visit www.ecobusiness.fund

About Finance in Motion  

Finance in Motion is a global impact asset manager focused exclusively on sustainable development in emerging markets and developing economies. The company structures, manages, and advises impact investment funds that bring together public and private investors to address climate change, strengthen biodiversity conservation, foster the sustainable use of natural resources, improve livelihoods, and promote economic opportunities.

For more information, please visit us at: www.finance-in-motion.com  
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